Send money to Taiwan

Wise is one of the few major fintechs offering TWD delivery at competitive rates. For larger amounts, OFX and Xe also provide good value. Provider options for Taiwan are more limited than for Japan or South Korea, so the savings from comparing multiple providers can be significant — the fewer the competitors, the wider the rate differences.

SWIFT bank transfers to Taiwanese banks typically take 1–3 business days, depending on the intermediary banks involved. There is no widespread real-time international payment integration for TWD. Transfers initiated early in the week and during Taiwanese business hours tend to settle faster.

You need the recipient's full name (matching their bank records), bank name (e.g., Cathay United, CTBC, E.SUN), the bank's SWIFT/BIC code, the branch code, and the local account number (typically 12–14 digits). Taiwan does not use IBAN. Including the bank's full English address can help avoid routing delays.

No. Taiwan does not participate in the IBAN system. International transfers to Taiwan require the SWIFT/BIC code of the recipient's bank, the branch code, and the local account number. This is similar to Japan and South Korea, which also use SWIFT-based routing rather than IBAN.

LINE Pay and JKoPay are popular for domestic payments in Taiwan but do not accept direct international remittances. The standard method is to send via SWIFT to your recipient's bank account at Cathay United, CTBC, E.SUN, or another Taiwanese bank. From there, they can move funds to any domestic payment app instantly.

Taiwan does not tax incoming personal remittances. However, the Taiwan Tax Authority monitors large inbound transfers — amounts exceeding TWD 500,000 (roughly $15,000) may prompt a bank inquiry about the nature of the funds. Regular family support transfers are not subject to income tax.

The TWD is managed by Taiwan's central bank, which intervenes in the market to prevent excessive volatility. The currency is not as freely traded offshore as JPY or KRW, which means remittance providers may add larger FX markups. Provider rates for TWD can differ by 1–3%, making comparison especially valuable.

Wise, OFX, Xe, Western Union, and MoneyGram support TWD transfers. Wise offers the most transparent pricing for smaller amounts. OFX and Xe may provide better rates on larger transfers above $5,000. The corridor has fewer fintech options than Japan or South Korea, so traditional providers like Western Union remain relevant.

Western Union has cash pickup locations in Taiwan, primarily in Taipei, Kaohsiung, and Taichung, often inside banks or convenience stores. However, Taiwan has near-universal banking access and one of the highest ATM densities in Asia, making bank deposit the far more practical and common choice for receiving international money.